CSSF Circular 14/587 regarding provisions applicable to
credit institutions acting as depositary of UCITS under Part I of
the Luxembourg Law of 17 December 2010 – transition period
extended to 18 March 2016.
The purpose of the CSSF Circular 14/5871 published on
11 July 2014 was to clarify the depositary regime provided for in
the relevant UCITS law of 2010 and defining the new organisational
provisions which must be put in place for UCITS depositaries
established in Luxembourg as well as for UCITS as regards the
missions, obligations and rights relating to the function of UCITS
depositary2.
On 23 March 2015 the CSSF published the CSSF Circular
15/6083 which amended point 187 of the CSSF
Circular 14/587 by extending the deadline for compliance with the
provisions from 31 December 2015 to 18 March 2016 at the latest.
This modification is in line with the new transposition deadline of
the UCITS V Directive4 into the national law of EU
Member States.
